Luko is a French insurtech startup that offers home insurance and smart devices to prevent damages. Founded in 2016, Luko has grown rapidly and attracted over 200,000 customers in France, Belgium, and Spain.

Luko’s mission is to reinvent the insurance industry by providing transparent, fair, and sustainable services.

Luko, the #1 home insurtech in Europe
Because we all love our home, get the best coverage to protect it: simple, transparent, at the right price.

Luko’s unique features include:

  • Instant claims: Luko promises to reimburse claims within two hours, thanks to its AI-powered claims management system.
  • Social impact: Luko donates part of its profits to environmental and social causes, such as reforestation and access to water.
  • Smart prevention: Luko sells or rents smart devices, such as water leak detectors and door sensors, that can alert customers and prevent damages.

However, Luko’s success story might be coming to an end. The startup is facing a possible liquidation due to its debt restructuring issues. Luko had agreed to be acquired by British insurer Admiral Group to avoid insolvency, but the deal is now at risk. The main obstacle is the conflict between Luko’s creditors, BNP Paribas and Triple Point Ventures, who are seeking to recover their funds before each other. The acquisition plans are uncertain, and the fate of Luko will be decided by November 7, the next judicial deadline for the startup.

Luko’s situation is a reminder that even well-funded and innovative startups can encounter unexpected challenges. The insurtech sector is dynamic and competitive, and requires adaptability and resilience. Luko’s future will not only affect its customers and investors, but also the insurtech industry as a whole.

Will this former future unicorn be sold for parts? | TechCrunch
While Luko could still sell itself, it seems less likely to receive a “very competitive offer.”
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